Al Omaniya Financial keen to bid for United Finance merger

20/05/2015 00:22 AST

Al Omaniya Financial Services has expressed its interest in participating in the bidding process for a possible merger with or acquisition of United Finance Company.

In a disclosure filed on the website of the Muscat Securities Market on Tuesday, United Finance Company announced that it has received an official communication from Al Omaniya Financial Services confirming their interest.

"The matter is receiving the board's attention and further announcement in this regard shall be made in due course, if there is any development," said the company said in a disclosure statement.

In a disclosure on Monday, Salim Al Awadi, acting chief executive officer of Al Omaniya, stated that the company had replied to United Finance Company with a letter dated May 18 confirming its interest to participate in the bidding process.

The company had received a letter dated May 12 from United Finance requesting confirmation of its interest.

Times of Oman

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